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What can you do if your motorcycle was stolen and you had only liability insurance and owe 10000 dollars?
Wiki User
∙ 17y ago
First of all I dont know who would lend that without requiring full insurance. That said you have only one option keep paying for the bike and smarten up next time. You owe the money, you made a bad decision, I'm surre the lender will have you in court if you do not pay. Then your credit will be ruined. Maybe they will find it. Your options are limited. Homeowners will not cover it. I'm sure this is not what you want to hear but its an accurate assesment.
Wiki User
∙ 17y ago
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Does liability insurance cover a stolen car?
Liability Insurance and the Stolen VehicleNo, Liability Insurance provides coverage for damages or injuries that we cause to others. It does not provide coverage for our own vehicle damages or theft.
Is the insurance company liable to replace a stolen car with only liability insurance?
If you only carry liability insurance, that is all that the insurance company is liable for in this state.
What can you do if your car was stolen and you only have liability?
Unfortunately, there is nothing you can do with your insurance company. If you only have liability insurance, they do not pay anything to have your vehicle replaced.
What type of insurance will cover a stolen vehicle?
Comprehensive insurance covers theft. Liability & Collision do not.
If a vehicle is stolen and is only covered by PLPD will the insurance company pay for the loss?
You must have comprehensive coverage in order to recover on a claim from your insurance company if your vehicle is stolen. Liability only is just that, liability for your legal liability for damage or injuries to others.
Is it possible to pay the difference for full coverage if motorcycle was stolen with just liability and still owe?
No. It would be insurance fraud to up to full coverage for a missing bike and then claim it was stolen. Quick ride to jail. Report it to police and you may recover it.
Who will be responsible if your parked car hit by a stolen car and you only have liability insurance?
It depends on the state, but at least where I live, the insurance of the stolen car pays for damages. Check it out with your insurance agent. He/she should be able to give you that information, even if your liability won't cover it.
Is a stolen motorcyle covered under home owners insurance?
No. It covered under a motorcycle policy.
Your car was stolen with only liability insurance will the insurance pay?
No,, Liability insurance is the minimum financial responsibility requirement in most states. Liability only is the cheapest way to go on your premiums but it only covers damage we do to another person or vehicle.In order to cover a stolen vehicle you would have needed to purchase comprehensive coverage on your vehicle policy.
How do you know if a motorcycle is stolen?
The motorcycle is not there anymore.
How can you find out if a motorcycle is stolen?
carfax? Try contacting your local Police to see if it is registered stolen. Some people have also suggested calling an insurance company as they will have access to these records.
Will liability insurance cover a business that purchased stolen goods with out knowing the goods were stolen?
It all depends on the terms of the insurance policy. If it says it will cover that kind of loss, you're covered. If it doesn't specifically cover that kind of loss, you're out.
